DAVENPORT & Co LLC Has $679,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

DAVENPORT & Co LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,740 shares of the company’s stock after buying an additional 182 shares during the period. DAVENPORT & Co LLC’s holdings in Cardinal Health were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. Czech National Bank boosted its position in Cardinal Health by 7.0% in the third quarter. Czech National Bank now owns 49,673 shares of the company’s stock valued at $5,490,000 after buying an additional 3,259 shares in the last quarter. Pensionfund Sabic acquired a new stake in Cardinal Health in the third quarter valued at approximately $1,105,000. Perpetual Ltd acquired a new stake in Cardinal Health in the third quarter valued at approximately $208,000. UMB Bank n.a. boosted its position in Cardinal Health by 4.9% in the third quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock valued at $249,000 after buying an additional 106 shares in the last quarter. Finally, Pinnacle Bancorp Inc. boosted its position in Cardinal Health by 20.0% in the third quarter. Pinnacle Bancorp Inc. now owns 690 shares of the company’s stock valued at $76,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.4 %

Shares of NYSE CAH opened at $127.62 on Friday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The company has a market capitalization of $30.83 billion, a PE ratio of 23.81, a P/E/G ratio of 1.46 and a beta of 0.63. The firm has a fifty day simple moving average of $122.46 and a 200 day simple moving average of $115.14.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.92 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CAH. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.87.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.